Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    11021 Nicholas Ln Ocean Pines, MD 21811
    Back to Search
    Property profile & analytics

    11021 Nicholas Ln Ocean Pines, MD 21811

    View on Map
    • Lifestyle centers
    • 6,834 SF
    • 3.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 11021 Nicholas Ln

    Year built
    2004
    Lot size
    3.56 lot acres
    Property size
    6,834 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional investment opportunity presents a fully-leased, 6,834 square foot shopping center situated on a 3.56-acre lot in the thriving Ocean Pines, Maryland community. Located at the entrance of the South Gate, this multi-tenant property boasts a prime location ensuring high foot traffic and consistent income. The building, constructed in 2004, has been meticulously maintained and recently updated, minimizing upkeep costs for the new owner. Significant improvements include a brand-new roof installed in 2022 and a complete HVAC system overhaul three years prior. The property consists of seven fully leased office/retail condo units, providing immediate cash flow. The asking price is $1,900,000, and aggressive owner financing is available. This property is zoned COMMERCIAL and offers a unique opportunity to capitalize on the continued growth of Ocean Pines. The property includes the following tax ID numbers: Unit 2: 03-143538

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Pines
    County
    Worcester
    State
    Maryland
    Longitude
    -75.1619
    Latitude
    38.3751

    Comparable in this City

    • Value Estimation by Request
      123,534 SF

      11328 Samuel Bowen Blvd

      Neighborhood centers • 123,534 SF
      11328 Samuel Bowen Blvd, Berlin, MD 21811
      View Details
    • Value Estimation by Request
      3,621 SF

      11349 Samuel Bowen Blvd

      MINI-MALL • 3,621 SF
      11349 Samuel Bowen Blvd, Berlin, MD 21811-2212
      View Details
    • Value Estimation by Request
      49,040 SF

      10452 Old Ocean City Blvd

      SHOPPING CENTER, STRIP CENTER • 49,040 SF
      10452 Old Ocean City Blvd, Berlin, MD 21811-1177
      View Details
    • Value Estimation by Request
      9,840 SF

      10818 Ocean Gtwy

      SHOPPING CENTER, STRIP CENTER • 9,840 SF
      10818 Ocean Gtwy, Berlin, MD 21811-3507
      View Details
    • Value Estimation by Request
      11,240 SF

      9040 Worcester Hwy

      SHOPPING CENTER, STRIP CENTER • 11,240 SF
      9040 Worcester Hwy, Berlin, MD 21811-3020
      View Details
    • Value Estimation
      $2,035,000
      15,619 SF

      11436 Samuel Bowen Blvd

      SHOPPING CENTER, STRIP CENTER • 15,619 SF
      11436 Samuel Bowen Blvd, Berlin, MD 21811-2213
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Historic Berlin Restaurant For Sale

      Restaurant property in historic Berlin, MD with tenant in place.
      12 Broad St, Berlin, MD 21811
      View Details
    • $265,000

      Turn-Key Restaurant Business Opportunity

      Fully operational 155-seat restaurant in Ocean Pines, Maryland for sale.
      11310 Manklin Creek Rd, Ocean Pines, MD 21811
      View Details
    • Contact for pricing

      Prime Retail Space on Corridor

      End-cap retail space on a busy Salisbury corridor.
      710 S Salisbury Blvd, Salisbury, MD 21811
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Retail Space on Route 50

      Retail space available on Route 50 in Berlin, MD.
      11408 Ocean Gtwy, Berlin, MD 21811
      View Details
    • Contact for pricing
      12,869 SF

      Retail Space in Penington Commons

      Former Rite Aid in heavily trafficked shopping center.
      11011 Manklin Creek Rd, Berlin, MD 21811
      View Details
    • Contact for pricing

      Prime Retail Spaces Available

      Three retail spaces for lease in Ocean Landings II.
      11328 Samuel Bowen Blvd, Berlin, MD 21811
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11021 Nicholas Ln
    Ocean Pines, MD 21811
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    11021 Nicholas Ln, Ocean Pines, MD, 21811
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!